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COMPUTER IDENTICS ANNOUNCES THIRD QUARTER 1992 RESULTS

 COMPUTER IDENTICS ANNOUNCES THIRD QUARTER 1992 RESULTS
 CANTON, Mass., Oct. 23 /PRNewswire/ -- Computer Identics Corporation


(NASDAQ: CIDN) reported its results today for the third quarter and first nine months of 1992.
 Net income for the three months ended Sept. 30, 1992 was $50,000 on revenue of $5,069,000. This compares with net income of $257,000 for the same quarter of 1991 on revenues of $5,089,000. The increase in expenses is due to the increased product development expense, as well as the reduced value of the dollar, which increases the apparent cost if European subsidiary operations. For the nine months ended Sept. 30, 1992 profits have more than doubled on a revenue increase of 8 percent as revenues increased to $15,626,000 from $14,519,000. Net income was $524,000 or 5 cents per share, compared to a profit in the first nine months of 1991 of $239,000.
 Frank J. Wezniak. president and chief executive officer, said "This was a paradoxical quarter. The level of customer interest and active projects is high in both the United States and Europe for Computer Identics automatic identification and data collection products as a result of last year's restructuring of the sales forces and expansions in the product offerings. However, economic and political uncertainty in all parts of the world adversely affected both bookings and revenues during the third quarter as industrial customers delayed new purchase decisions as well as implementation schedules for previously committed projects. the business pace is slowly improving, especially in the United States, as concern over the election lessens.
 Year-to-date we are well ahead in profits on a modest 8 percent increase in revenues because of much improved gross margins and tight cost control. The margin improvement is a direct result of greater attention to product quality in all aspects of the business, from design to sales to manufacture.
 New product introductions at SCAN-TECH, the major industry trade show, went well, with attendance and activity at the exhibition in Los Angeles better than expected. This is consistent with the increased activity levels mentioned earlier and should lead to improved business results."
 Computer Identics Corporation designs, manufactures and services bar code products and systems for factory data collection and material handling applications in warehousing, distribution and manufacturing environments.
 COMPUTER IDENTICS CORPORATION
 1992 Third Quarter Unaudited Financial Results
 (In thousands of dollars except per share data)
 Three Months Ended Nine Months Ended
 Sept. 30 Sept. 30
 1992 1991 1992 1991
 Total revenue $5,069 $5,089 $15,626 $14,519
 Costs and expenses 4,994 4,732 14,939 14,066
 Income (loss) before
 provision for income
 taxes 75 357 687 453
 Provision for income
 taxes (25) (100) (163) (214)
 Net income (loss) 50 257 524 239
 Net income (loss)
 per common share -- 3 cents 5 cents 3 cents
 Weighted average
 number of common
 shares outstanding 10,401,297 9,524,493 10,349,340 9,524,493
 -0- 10/23/92
 /CONTACT: Frank J. Wezniak, president or Stephen D. Prendergast, vice president, finance and admininstration, 617-821-0830, both of Computer Identics/
 (CIDN) CO: Computer Identics ST: Massachusetts IN: CPR SU: ERN


TM -- NE013 -- 4358 10/23/92 17:20 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
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